Stock Market & Financial Investment News

SanDisk awarded $28.5M in IP dispute with PNY TechnologiesSanDisk Corporation announced that a Santa Clara County jury has awarded SanDisk $28.5M in damages for PNY's breach of its license agreement. The jury found that PNY had failed to pay SanDisk amounts owed for the right to license SanDisk's valuable intellectual property.

SanDisk downgraded to Hold from Buy at Evercore ISIEvercore downgraded SanDisk to Hold and lowered its price target on the company to $68 after SanDisk's second negative pre-announcement of the quarter. SanDisk was also downgraded earlier today by Goldman Sachs, BofA/Merrill, and BTIG.

SanDisk still has risk following another pre-announcment, says NomuraNomura still sees risk to SanDisk's valuation following another pre-announcement. The firm sees share pressure from a number of different ways and believes shares could trade down to the $55-$60 price target. Shares are rated Reduce by the firm.